Blockchain innovation – Algorand distributes $ 50 million over five years

Six universities are involved in the United States, including those at Yale and Carnegie Mellon, as well as that of Florida. The other beneficiary countries are Italy, Germany, South Africa and Singapore. A total of 77 proposals were received for the selection phase with more than 550 participants representing 46 countries and an international jury of 27 experts had to decide.

Introducing #AlgoACE: our $ 50 million blockchain research program. We are funding 10 schools to grow the Algorand ecosystem and challenge the norm. See how ACE will power the future of cryptocurrencies here: https://t.co/2UeAo8A10C #ShapeTheFuture

The selection process was incredibly difficult given the number of excellent applications we received […] we can’t wait to see the incredible work that scholarship recipients will do in the months and years to come commented Dr. Hugo Krawczyk, Principal Investigator of the Algorand Foundation and ACE Program Manager.

Objectives of the ACE program

The ACE program will run over a five-year period. The grants awarded will fund research and training centers on university campuses with the multidisciplinary research mission in the blockchain and cryptocurrency space.

The development of real blockchain solutions, applications and use cases, social impact and sustainability projects based on blockchain technology, as well as education and expansion of the Algorand community will be implemented.

Developing the Algorand community through the ACE program can increase interest in the native ALGO token. According to Cryptocurrenciesthe coin could safely navigate around $ 0.5 with a high price of $ 0.68 and a low price of $ 0.3 in 2023, which causes its price not to drop, but to remain constant.

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